Deep-pocketed investors have adopted a bearish approach towards Qualcomm QCOM, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in QCOM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 27 extraordinary options activities for Qualcomm. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 55% bearish. Among these notable options, 4 are puts, totaling $202,657, and 23 are calls, amounting to $1,419,285.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $140.0 to $250.0 for Qualcomm over the last 3 months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Qualcomm's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Qualcomm's whale trades within a strike price range from $140.0 to $250.0 in the last 30 days.
Qualcomm 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| QCOM | CALL | SWEEP | BULLISH | 04/19/24 | $175.00 | $229.5K | 3.0K | 361 |
| QCOM | CALL | SWEEP | BULLISH | 04/19/24 | $180.00 | $199.5K | 1.9K | 744 |
| QCOM | CALL | TRADE | BULLISH | 04/19/24 | $170.00 | $78.4K | 3.1K | 201 |
| QCOM | CALL | TRADE | NEUTRAL | 04/19/24 | $145.00 | $77.1K | 3.5K | 34 |
| QCOM | PUT | SWEEP | NEUTRAL | 03/15/24 | $172.50 | $77.1K | 925 | 430 |
About Qualcomm
Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G, 4G, and 5G networks. Qualcomm's IP is licensed by virtually all wireless device makers. The firm is also the world's largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Qualcomm also sells RF-front end modules into smartphones, as well as chips into automotive and Internet of Things markets.
Present Market Standing of Qualcomm
- Trading volume stands at 1,300,302, with QCOM's price down by -0.53%, positioned at $174.78.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 54 days.
Expert Opinions on Qualcomm
2 market experts have recently issued ratings for this stock, with a consensus target price of $150.0.
- An analyst from Cantor Fitzgerald has revised its rating downward to Neutral, adjusting the price target to $150.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Neutral with a new price target of $150.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Qualcomm, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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